Lotus CEO Confirms Lotus as Official Chinese Name, Honors Brand’s Chinese Heritage
In an exclusive interview with leading media outlets, Lotus Group CEO Feng Qingfeng has revealed that the company’s Chinese name will soon be officially Lotus, marking a return to the brand’s roots. The decision comes after years of negotiation and brand repositioning, aiming to strengthen Lotus’s presence in the Chinese market.
Historical Context and Name Registration Conflict
Previously, Lotus encountered a naming issue when entering the Chinese market. The brand was faced with a name conflict as another company, a components manufacturer, had already registered the name Lotus for use in the automotive industry. This company did not utilize the Lotus name in the context of complete vehicles, presenting a unique challenge for Lotus. After a two-year endeavor, Lotus is now set to reclaim the Lotus name in its entirety.
Strategic Rebranding for Enhanced Consumer Connection
Feng Qingfeng, in explaining the rationale behind the rebranding, highlighted the enduring significance of Lotus in the Chinese consumer’s mind. In the hearts of Chinese consumers, the name ‘Lotus’ holds a special place, he said. The brand ‘Lotus’ is the phonetic translation of the original ‘路特斯’, but mentioning ‘Lotus’ evokes a stronger emotional connection with consumers.
Lotus: A Global Prestige in Luxury Cars and Racing
Lotus, a world-renowned manufacturer of high-performance sports cars and racing vehicles, has had a notable presence in China, with its vehicles previously known as Lai Na Paoche (Lai Na = Lotus, Paoche = Car). The brand’s legacy in China is significant, with a strong following among enthusiasts.
Acquisition and Integration under Geely
In 2017, Geely, a leading Chinese automaker, completed its acquisition of a 51% stake in Lotus Group, along with a 49% share in Proton, Malaysia’s national car manufacturer. This strategic move solidified Lotus’s position as a subsidiary under the Geely umbrella, focusing on high-performance luxury vehicles.
Market Performance and Future Outlook
Currently, Lotus is poised to launch a new model by the end of next year, aiming to boost sales and revenues. Feng Qingfeng disclosed that the company has delivered a total of 4,873 vehicles in the first half of the year, indicating a steady market presence and growing demand.
Pricing and Market Strategy
Lotus offers two models in the Chinese market: the EMEYA繁华 and ELETRE, priced at 668,000 to 1,368,000 yuan and 728,000 to 1,238,800 yuan respectively. Both models are electric vehicles, aligning with the Chinese government’s push towards sustainable transportation.
Chinese Market Relevance and Future Growth
The return to the Lotus name is not just a symbolic move; it’s a strategic one, aiming to leverage the brand’s historical and emotional connection with Chinese consumers. Lotus’s future in the Chinese market looks promising, with the introduction of new models and a commitment to high-quality, innovative vehicles.
Conclusion
With the official confirmation of Lotus as the brand’s Chinese name, Lotus is poised to further strengthen its position in the Chinese luxury automotive market. The rebranding reflects a deep understanding of the brand’s heritage and the importance of cultural resonance in its target market. As Lotus continues to innovate and expand its product line, it aims to maintain its legacy as a leader in the world of luxury sports cars and racing vehicles.
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